【Jumpstarter 1 minute】Inovo Robotics (HK) Limited – Helping robotics go mainstream with small businesses
October 4, 2017
In the future, automaton and robotics will eliminate millions of low-end, repetitive jobs. A recent PwC study found that about 38 percent of all jobs in the US are at risk of being lost and could be automated by 2030.
Inovo Robotics, a Hong Kong-based start up, aims to help businesses adapt to this changing trend. Inovo builds versatile and capable robots that can help small and medium-sized enterprises automate repetitive, hazardous and precise tasks. Inovo aims to free human capital from repetitive tasks in order to enable people to focus on more high-value and rewarding work.
“Inovo Robotics is tailored for the needs of the small to medium-sized business. One thing that we noticed is that there is a need for automaton in the industry, and this wasn’t met, so we created Inovo Robotics to solve that problem,” said Inovo founder Jonathan Cheung.
Cheung, who studied mechanical engineering, has always been keen on robotics. He also worked as a consultant where he gave technical engineering advice to companies, which is where he developed his vision to bring robotics and automaton mainstream.
“I played with radio control cars and robots as a child, so I was thrilled when I managed to enter the robotics industry. This has always been a passion of mine, and I believe that if your work matches your passion it can be a recipe for success,” Cheung said.
For Cheung, setting up in Hong Kong was a no brainer due to the depth of technical talent and resources in the city.
“In Hong Kong, we are surrounded by maybe four to five amazing universities within a 25 kilometer radius. The amount of talent we have in Hong Kong and its proximity to China for low-cost manufacturing makes it the perfect place for a robotics startup,” said Cheung.
Currently, Inovo is focused on research and development in Hong Kong, but its first target market will be the United Kingdom.
“Our product offering will work in a place like the UK due to the high labor costs there. Companies located in countries with high labor costs who adopt our robots will be able to reap the biggest cost savings,” Cheung said, adding that China would be Inovo’s second target market.
Even though robotics and automation is still a nascent industry, Cheung believes it has a long runway for growth.
“People often talk to us about our exit strategy, whether we want to be acquired or we want to IPO. As an entrepreneur, it’s difficult to think that way because we are so focused on building our product and enjoying every step of the way,” Cheung said.